David Hernandez has a warrant for his arrest. The charges are for mail fraud, but the bigger picture is a payday ponzi scheme he operated.
What’s worth mentioning about this story is that if someone offers you “guaranteed investment contracts” at rates of 10-16% you should run. It’s too good to be true.
The FBI made this statement:
“Deposits from investors were “frequently followed by issuance of checks payable to a variety of individuals who previously provided funds to Hernandez and NextStep,” the affidavit said.
You can read more about this story in the Chicago Tribune.
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